PETROUTM 



strict operations in untried fit-Ms. The largest number 

 of new wells drilling was C18, in November, ISTt'i, and 

 the smallest number was 33. in March, !->. Tin- 

 Urge decrease in new work durini: I >*7 \v:is due to the 

 low price of the product, and during isss to an agree- 

 uifiit between the producers to restrict operations, 

 with the object of reducing the stocks. The number 

 of wells being drilled at the end of each month in tin- 

 years 1876 to 1888 is given in Table III. 



WeUt Drilled. The largest number of wells com- 

 pleted in any month was 470, in May, 1878, and the 



.smallest number 49, in April, 1888. The largest num- 

 U-r completed in any year was 4217. in 1880, and the 

 smallest nuinW since 1875 was 1644, in 1887. The 

 year ISSN will show a further decrease, owing to the 

 MI~I.I-IIMI.II uf drilling operations pursuant to un agree- 

 ment among the producers entered into in the summer 

 of 1887, and which was to continue from Nov. 1, 1887, 

 to Oct 31, 



The number of wells completed in each month dur- 

 ing the years 1870 to 1888, and the total for each year. 

 are given in Table IV. : 



TABLE IV. Neu> Wettt Completed. 



Producing Wett*. The number of producing wells 

 shows an almost unbroken increase from year to year to 

 1886 when the number reached 24.7L><;. During 1883 

 there was a decrease of 1 109 from the total of the pre- 

 vious year, but the year following showed a large 

 increase. The largest number of producing wells at 

 any time was 25,593, in February, 1887. Since Octo- 



ber, 1887, the decrease has been fully 8000, showing 

 the effect of the suspension of drilling operations, and 

 the fact that a large proportion of the wells soon cease 

 to be productive. Table V. gives the number of pro- 

 ducing wells at the close of each month in the years 

 1876 to 1888, with the yearly average : 



TABLK V. Producing Well*. 



Production. The production of petroleum in the 

 Pennsylvania and New York oil-fields has varied con- 

 siderably from month to month, but there was a gradual 

 increase from 1861, when the industry began to assume 

 important proportions, until 1876. During the follow- 

 ing year the industry made great strides, and each 

 succeeding year showed a large increase in the produc- 

 tion until 1882, in which year the maximum was 

 reached, since which time there has been a decline. 

 The yearly gross production in barrels and daily average 

 from 1859 to 1875 inclusive are given in Table VI. : 

 TABLE VI. Yearly Production and Daily Average. 



Beginning with the year 1876 the yearly increase was 

 unbrokfii until 1883, since which there nas been con- 

 siderable variation in the production, due to various 

 causes, mainly, however, to the decline in the produc- 

 tiveness of many of the wells and the exhaustion of 

 pools, as small fields are termed. The discovery of 

 flowing wells in new territory has proven a greater 

 incentive to the producers than has an advance in the 

 market price of the product. Such a discovery has 

 always stimulated drilling operations, resulting in a 

 large increase in tin- niiinlxT of new wells. If the new 

 wells prove productive, it indicates the discovery of a 

 new pool or field, according to the extent of the pro- 

 ductive area. The determination of the extent of a 

 new field sometimes results disastrously to the drillers 

 as territory, but a few rods from a good well may. and 

 often does, prove unpro<lii<-iiv<>. The remarkable de- 

 crease shown in the returns for 1888 is due to the 

 i v.-trii-i ions agreed upon by the producers, as already 

 mentioned. Table VII. gives the average daily pro- 

 duction, in barrels of 42 gals., during each month in 

 the years 1876 to 1888 inclusive : 



